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&if!n-lj)irl) Congress of % ®ttitte Steles of America;
the j&conct j&aaim*,
^
Begun and held at the City of Washington on Monday, the first day of December, one
thousand nine hundred and thirteen.
A.1S A C T
T
To provide' for the 0Htal>lislun<*nt of Federal reserve lmiikH, to furnish an elastic
currency, to afford means of rediseeninting commercial paper, to establish a
more effective supervision of banking in tin* C nitre! States, and for other
purpose's.
Hr It rmnliil InI Ihr Seiiitlr anil House of Ilrjai'sinlatirrs of thr f'nileil
Stair.* of Anirrira In ('oni/rrss assrinhlnl. That the' short title etf this Act shall
he the- “ Federal Re'se'rvo Aet.’’
\VheTeve*r the worel "hank” is iise'el in this Ae t. the \ve>rel shall he held to
include' Stale* bank, banking asses-iatmn. and trust ce»ni|mny, except where
national banks or Fe*de*ral reserve banks are specifically redcnvel te>.
The* te'rins "national bank” auel “ national banking nssesdatiem” use>d in
this Aet shall he hedel tei Ih* synonymous anil interehange*ahle. The* tonn
" nu'inlKT hank” shall he* ludd to mean any national hank. State lmnk. or hank
or trust company which Inis become' a mcmln'r of one e»f the* re'serve* bankscreateel
by this Act. The' term **hemrel” shall ho hedel te>liman Fe*deral Re'serve Roanl;
the te*mi "district” shall he* held to nmait Federal reserve distriet: the term
" re serve bank” shall Ik*hold to mean Federal nmem- lmnk.
FKllKttAL RBMKKVK DIHTKleTH.
S ko. 2. Assoem as practicable, the*S«>credaiy e»f the Treasury, the Secretary
of Agriculture ami the Comptroller e*f the Currency, aiding as "The Reaerve
Hunk Organization Committee,” shall designate' not le*ss than eight nor more
than twelve eitiem to In* known ae Federal rencrvo citiem. and shall divide the
continental I'nitcd State's, excluding Alaska, into districts, each district to
eon tain only one ofsu hF d ralreaervcHtlea. Thedcte'nninationofssideirpuric ee
/ntion committee' shall not la1subject to reviewexevpl by the Federal Rrsene
Bemnl w enorganized: Proridrd, That the districts shall W apportioned with
h
due regard te» the convenience and customary rourac «»f Imatness and shall not
necessarily be coterminous with any State or Hlatca. The districts thus
@FedFRASER